I’ve been pointing out on this blog for some time that sundry bank reform proposals to date are of questionable use because of their complexity (e.g. Vickers, Basel III and Dodd-Frank).
So it’s good to see two Dallas Fed economists reaching the same conclusion in the Wall Street Journal. As they say, “The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act was a well-intentioned response to the problem. Its stated promise—to end "too big to fail"—rings hollow. With a law that runs 849 pages and more than 9,000 pages of regulations written so far to implement it.”